Wooooh, hadn't really thought about something like that; would make a perfect trainer, water and land flyer and a relatively easy build. Sign me for this; will be my next build after I finish the Fokker D.VIII!!!
What is your wingspan, expected auw and what will you use the two channels for? For mine, I am thinking about something around 84cm (33") with slightly deeper chord than scale and with easily removable undercarriage.
Do you know your build has a bigger brother

hey m25, yep, i've been following that build for about a month now. i had his pictures up on my desktop while i was creating my mini version.

you'll have to forgive me, i've only been flying this one 35$, 2ch toys-r-us air plane for a couple of months. i'm still really new to all of the lingo.

what is "expected auw", and what do you mean by "slightly deeper chord"

on the 2ch setup there are no servos or moving control surfaces. the left and right motors are the two channels. thrust is the only way to make it climb, and the motors activate independently for turns.

You got some courage starting a scratch build that way, you heard of hobbyking.com ? You might want to have a look at the really inexpensive stuff you can find there.
auw means all-up-weight, it's the final weight of the model including battery and all while chord is basically the wings depth, but as always, wikipedia says it better.